Adam McCann, Financial Writer
@adam_mcan
Yes, the Wells Fargo Autograph Card may help you build credit, since Wells Fargo reports account information to the credit bureaus each month. Making on-time payments and keeping your balance low can help improve your score. On the other hand, missing payments and maxing out your credit limit can hurt your score.
Just note that while you can build credit with this card, you won't be able to start from scratch with it. You need a solid credit score just to qualify.
How to Build Credit with a Wells Fargo Autograph Card
- Keep your credit utilization low. It’s good to keep your balance below 30% of your credit limit, both on this card and overall across all your credit accounts.
- Pay above the monthly minimum. It’s always best to pay your statement balance in full to avoid paying interest. If you can’t pay in full, paying off as much as possible will help minimize the amount accruing interest. Plus, the less debt you carry, the better it is for your credit score.
- Never miss a payment. It’s never good to miss a due date, but you should at least pay within 30 days after the due date, before the missed payment shows up on your credit report. Setting up automatic payments can help ensure you don’t miss a due date by accident.
It’s worth noting that you don’t even need to make purchases with your card to build credit. Just having the account open with a $0 balance will still help you slowly raise your credit score. However, many factors influence your credit score, so following the above advice does not guarantee improvement.
You can check your credit score and get daily updates on your credit-building progress for free right here on WalletHub. You can also get personalized advice and simulate your score based on future activity.
People also ask
Does a credit card build credit?
Yes, a credit card does build credit. Credit cards report account information to the major credit bureaus on a monthly basis, which will gradually build your credit history and improve your credit score if you pay the bills on time or just keep the account in good standing with a $0 balance.
Tips for Building Credit with a Credit Card
Pay Your Balance on Time and in Full
Paying your bills on...
read full answer by Theresa Chalfant, WriterWhat is the Wells Fargo Autograph Card credit score requirement?
The Wells Fargo Autograph® Card credit score requirement is 700 or higher. That means people with good credit may have a decent shot at getting approved for the Wells Fargo Autograph Card. You can check your credit score for free here on WalletHub to see if you qualify.
Note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Wells Fargo Autograph Card. Some other key criteria include your income, existing debt load,...
read full answer by John Miller, Credit Cards ModeratorIs the Wells Fargo Autograph Card easy to get?
The Wells Fargo Autograph® Card is not easy to get. The Wells Fargo Autograph Card is available to people who have good credit or better, meaning a score of 700+. A sufficient credit score is not the only requirement for approval, either.
Wells Fargo Autograph Card Requirements
- Credit requirement: good credit or better
- Age requirement: 18+
- Citizenship requirement: U.S. citizen or permanent resident
- ID requirement: SSN or ITIN
- Income requirement: At least enough to afford monthly bill...
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